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Wednesday, 15 June 11
INDONESIA NEW COAL POLICY WORRIES INDIA POWER FIRMS - MYDIGITALFC
 Tata Power, Adani group, Lanco Infratech and Reliance Power, among other Indian coal importers, are waiting to assess the impact of the Indonesian government attempts to benchmark its coal prices to international indices. The new system has the potential to increase the cost of thermal power generated using imported coal in India.
The new method that will come into effect from September attempts to link the royalties paid to the Indonesian government to an index of coal prices for Australian and South African coal in addition to others. But Indian firms said Indonesian coal is of lower calorific value and, hence, priced cheaper compared with Australian and South African coal.
Deepak Amitabh, director (corporate finance) of PTC, said there are lots of issues, which still need to be sorted before the coal prices are determined. “We are still not clear how the government will work out the price differentials between Indonesian coal and that produced by Australia or South Africa, for example. Also the spot prices are always costly compared with the long-term sales contracts. We need to find out if the long term contracts for Indonesian coal would be at discount to international market prices or not.”
In September 2010 the Indonesian government issued new regulations to determine the benchmark price for the sale of coal and minerals. The regulation proposes to peg the price for both domestic sales and export of coal to a ‘benchmark price’ for all the mining licensees. Dipesh Dipu, director, consulting (mining) at Deloitte in India said the new regulation will force companies to transact at market prices, which may be seen as raising the cost of delivered coal in India.
“When companies invest in Indonesia, they tend to have the intent to sell coal at cost, so that Indonesian business unit remained at no or negligible profits. Taking a holistic view, however, the cash flows in an integrated Indonesian coal mining and Indian power generation unit after this regulation will continue to be similar, except that income taxes will be paid in Indonesia, and the cash flows will need to be brought on the books on Indian power project after paying taxes in Indonesia through appropriate and innovative business structuring,” said Dipu.
Banmali Agarwala, executive director and head of business development at Tata Power said, “The increased pricing will definitely affect the cost of generation and we are trying to work out a strategy to handle the additional hike.”
Adani group that sources coal from its mines in Indonesia is also expected to be affected by this regulation, as Adani Enterprises has direct stake in Bunyu mines in Indonesia. Adani Power has contracted to procure 4.6 mtpa coal from Adani Enterprises at $36 per tonne. However, the total import requirement for present operational capacities is around 6 mtpa.
Vijaykumar Bupathy, senior analyst with Spark Capital Advisors, said in report that “Assuming a $50 per tonne increase in the free on board (FoB) price of coal, there would be Rs 1,040 crore incremental fuel cost to the group to the extent of the committed 4.6 mtpa of supply alone.” However, when Financial Chronicle contacted Adani Enterprises, the company said there will be no direct impact on the company, since its total cost of mining and transporting Indonesian coal to Mundra is $25 per tonne. The coal is sold to Adani Power at $36 per tonne. “Any hike in price would only increase the royalty payments by around $1 or $2 per tonne. This may have a marginal impact on the company,” said a senior finance official of Adani Enterprises.
Tata Power/BSE Rs 1,249.35 p
NSE Rs 1,249.90 p
Source: mydigitalfc (By Vikas Srivastav)
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Wednesday, 14 December 16
INTERNATIONAL TRIBUNAL DISMISSED CHURCHILL MINING'S DAMAGES CLAIM AGAINST REPUBLIC OF INDONESIA
The Directors of Churchill Mining plc advise that, the ICSID Tribunal (“Tribunal”) granted Indonesia’s application to dismiss the ...
Wednesday, 14 December 16
20/20 VISION! - JOHN N. COTZIAS
2020; A year that could be changing shipping. In early November, the International Maritime Organization (IMO) announced that it would set a 0.5% s ...
Tuesday, 13 December 16
THE FREIGHT MARKET MAY WELL BE SHOWING SIGNS OF HEADING FOR ITS DOWNWARD CORRECTIVE PHASE - ALLIED
2016 has been a tough market for dry bulkers and through these difficult earnings, we have seen some of the lowest prices being noted historically ...
Tuesday, 13 December 16
COAL DEMAND GROWTH TO STALL AS APPETITE WANES, ACCORDING TO IEA
Growth in global coal demand will stall over the next five years as the appetite for the fuel wanes and other energy sources gain ground, according ...
Monday, 12 December 16
U.S. WEEKLY COAL PRODUCTION TOTALS 16.3 MMST, UP 7.4% - EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 16.3 million short ton ...
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- McConnell Dowell - Australia
- Vedanta Resources Plc - India
- New Zealand Coal & Carbon
- The State Trading Corporation of India Ltd
- Asmin Koalindo Tuhup - Indonesia
- Intertek Mineral Services - Indonesia
- Ministry of Transport, Egypt
- Karbindo Abesyapradhi - Indoneisa
- CIMB Investment Bank - Malaysia
- Globalindo Alam Lestari - Indonesia
- Meenaskhi Energy Private Limited - India
- Ministry of Finance - Indonesia
- Deloitte Consulting - India
- Ambuja Cements Ltd - India
- Central Electricity Authority - India
- Malabar Cements Ltd - India
- GMR Energy Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- International Coal Ventures Pvt Ltd - India
- Port Waratah Coal Services - Australia
- Electricity Authority, New Zealand
- Semirara Mining Corp, Philippines
- Economic Council, Georgia
- VISA Power Limited - India
- Mercuria Energy - Indonesia
- Sarangani Energy Corporation, Philippines
- Global Green Power PLC Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- Energy Development Corp, Philippines
- Alfred C Toepfer International GmbH - Germany
- Mjunction Services Limited - India
- Kapuas Tunggal Persada - Indonesia
- Oldendorff Carriers - Singapore
- Grasim Industreis Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- South Luzon Thermal Energy Corporation
- Medco Energi Mining Internasional
- Orica Australia Pty. Ltd.
- Sindya Power Generating Company Private Ltd
- Independent Power Producers Association of India
- Interocean Group of Companies - India
- Baramulti Group, Indonesia
- Maheswari Brothers Coal Limited - India
- Banpu Public Company Limited - Thailand
- Cement Manufacturers Association - India
- Uttam Galva Steels Limited - India
- Vizag Seaport Private Limited - India
- Kepco SPC Power Corporation, Philippines
- London Commodity Brokers - England
- Therma Luzon, Inc, Philippines
- PTC India Limited - India
- ASAPP Information Group - India
- SN Aboitiz Power Inc, Philippines
- Salva Resources Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- Indian Oil Corporation Limited
- PNOC Exploration Corporation - Philippines
- Mintek Dendrill Indonesia
- ICICI Bank Limited - India
- Samtan Co., Ltd - South Korea
- Altura Mining Limited, Indonesia
- Global Coal Blending Company Limited - Australia
- Attock Cement Pakistan Limited
- SMG Consultants - Indonesia
- Kideco Jaya Agung - Indonesia
- Sakthi Sugars Limited - India
- Leighton Contractors Pty Ltd - Australia
- Indogreen Group - Indonesia
- Mercator Lines Limited - India
- Wood Mackenzie - Singapore
- Meralco Power Generation, Philippines
- Parry Sugars Refinery, India
- Indika Energy - Indonesia
- The University of Queensland
- Coastal Gujarat Power Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Siam City Cement - Thailand
- Sree Jayajothi Cements Limited - India
- Energy Link Ltd, New Zealand
- Antam Resourcindo - Indonesia
- Timah Investasi Mineral - Indoneisa
- Bukit Asam (Persero) Tbk - Indonesia
- Edison Trading Spa - Italy
- San Jose City I Power Corp, Philippines
- White Energy Company Limited
- Australian Commodity Traders Exchange
- TNB Fuel Sdn Bhd - Malaysia
- Binh Thuan Hamico - Vietnam
- Borneo Indobara - Indonesia
- Ind-Barath Power Infra Limited - India
- Agrawal Coal Company - India
- SMC Global Power, Philippines
- Videocon Industries ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- LBH Netherlands Bv - Netherlands
- Manunggal Multi Energi - Indonesia
- GAC Shipping (India) Pvt Ltd
- Bangladesh Power Developement Board
- Minerals Council of Australia
- Indian Energy Exchange, India
- MS Steel International - UAE
- GN Power Mariveles Coal Plant, Philippines
- Ministry of Mines - Canada
- Thiess Contractors Indonesia
- Wilmar Investment Holdings
- PetroVietnam Power Coal Import and Supply Company
- Essar Steel Hazira Ltd - India
- Tamil Nadu electricity Board
- Kumho Petrochemical, South Korea
- Bhoruka Overseas - Indonesia
- Bulk Trading Sa - Switzerland
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- OPG Power Generation Pvt Ltd - India
- Eastern Coal Council - USA
- Pipit Mutiara Jaya. PT, Indonesia
- Indonesian Coal Mining Association
- Trasteel International SA, Italy
- Metalloyd Limited - United Kingdom
- Savvy Resources Ltd - HongKong
- Sical Logistics Limited - India
- Miang Besar Coal Terminal - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- The Treasury - Australian Government
- Makarim & Taira - Indonesia
- TeaM Sual Corporation - Philippines
- Kartika Selabumi Mining - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Renaissance Capital - South Africa
- Merrill Lynch Commodities Europe
- Kohat Cement Company Ltd. - Pakistan
- Simpson Spence & Young - Indonesia
- Commonwealth Bank - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Coalindo Energy - Indonesia
- CNBM International Corporation - China
- Bayan Resources Tbk. - Indonesia
- Xindia Steels Limited - India
- Sinarmas Energy and Mining - Indonesia
- Anglo American - United Kingdom
- Petron Corporation, Philippines
- Formosa Plastics Group - Taiwan
- Kobexindo Tractors - Indoneisa
- Tata Chemicals Ltd - India
- Aditya Birla Group - India
- Electricity Generating Authority of Thailand
- Singapore Mercantile Exchange
- Power Finance Corporation Ltd., India
- PowerSource Philippines DevCo
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Africa Commodities Group - South Africa
- Riau Bara Harum - Indonesia
- Bharathi Cement Corporation - India
- Parliament of New Zealand
- Aboitiz Power Corporation - Philippines
- Price Waterhouse Coopers - Russia
- Petrochimia International Co. Ltd.- Taiwan
- Rio Tinto Coal - Australia
- Gujarat Electricity Regulatory Commission - India
- Neyveli Lignite Corporation Ltd, - India
- India Bulls Power Limited - India
- European Bulk Services B.V. - Netherlands
- Sojitz Corporation - Japan
- Gujarat Sidhee Cement - India
- Directorate Of Revenue Intelligence - India
- Australian Coal Association
- Madhucon Powers Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Carbofer General Trading SA - India
- Chamber of Mines of South Africa
- Standard Chartered Bank - UAE
- Bhushan Steel Limited - India
- AsiaOL BioFuels Corp., Philippines
- Heidelberg Cement - Germany
- Lanco Infratech Ltd - India
- Jaiprakash Power Ventures ltd
- Pendopo Energi Batubara - Indonesia
- Georgia Ports Authority, United States
- Gujarat Mineral Development Corp Ltd - India
- Barasentosa Lestari - Indonesia
- Central Java Power - Indonesia
- Dalmia Cement Bharat India
- Siam City Cement PLC, Thailand
- Indo Tambangraya Megah - Indonesia
- Star Paper Mills Limited - India
- Karaikal Port Pvt Ltd - India
- Global Business Power Corporation, Philippines
- Planning Commission, India
- Vijayanagar Sugar Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- IEA Clean Coal Centre - UK
- Bhatia International Limited - India
- Iligan Light & Power Inc, Philippines
- Krishnapatnam Port Company Ltd. - India
- Kaltim Prima Coal - Indonesia
- GVK Power & Infra Limited - India
- Bukit Baiduri Energy - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Straits Asia Resources Limited - Singapore
- Holcim Trading Pte Ltd - Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- Marubeni Corporation - India
- Orica Mining Services - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Jindal Steel & Power Ltd - India
- Thai Mozambique Logistica
- Goldman Sachs - Singapore
- Latin American Coal - Colombia
- Romanian Commodities Exchange
- Posco Energy - South Korea
- Coal and Oil Company - UAE
- Larsen & Toubro Limited - India
- Ceylon Electricity Board - Sri Lanka
- Eastern Energy - Thailand
- Maharashtra Electricity Regulatory Commission - India
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